Overview


According to FutureWise analysis the market for medical wearables in 2023 is US$ 13.31 billion, and is expected to reach US$ 63.72 billion by 2031 at a CAGR of 21.62%.

Medical wearables are electronic devices that are worn on the body, typically on the wrist, chest, or head, and are designed to monitor and track various health metrics such as blood pressure, heart rate, glucose levels, and oxygen saturation. These devices can collect, analyze, and transmit data about a person's health and well-being to healthcare providers, enabling early detection and intervention to prevent disease progression and complications. Medical wearables can come in various forms, from simple fitness trackers that track physical activity and sleep patterns to more sophisticated devices that can monitor and diagnose chronic conditions. Some medical wearables can be worn continuously, while others are used for short-term monitoring, such as during a hospital stay.

One of the key features of medical wearables is their ability to transmit data in real time, enabling healthcare providers to monitor patients remotely and provide timely interventions when needed. Medical wearables can also improve patient engagement and adherence to treatment plans by providing patients with personalized feedback and coaching on their health and wellness. Medical wearables have the potential to transform healthcare by enabling more proactive and personalized approaches to healthcare delivery.

FutureWise Market Research has published a report that provides an insightful analysis of Medical Wearables Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Medical Wearables Market will experience a significant growth. According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.

  • Medtronic plc. (Ireland)
  • Koninklijke Philips N.V. (Netherlands)
  • Omron Corporation (Japan)
  • Biotelemetry Inc.(US)
  • Apple, Inc. (US )
  • Dexcom Inc. (US)
  • Abbott Laboratories(US)
  • Masimo Corporation(US)
  • GE Healthcare (US)
  • Bio-Beat Technologies (Israel)
  • iRhythm Technologies, Inc.(US)
  • VitalConnect (US)
  • Minttihealth (US)
  • Preventice Solutions, Inc. (US)
  • Contec Medical Systems Co.Ltd(China).
  • Biotricity Inc.(US)
  • Verily Life Sciences. (US)
  • Cyrcardia Asia Limited(Hong Kong)
  • Ten3T Healthcare (India)
  • VivaLnk, Inc. (US)

(Note: The list of the major players will be updated with the latest market scenario and trends)

Recent developments by key players in Medical Wearables Market:

  • In November 2022, Zepp Health unveiled the Amazfit Pop 2, a smartwatch available only in India. The e-commerce site Flipkart sells the fitness tracker.
  • In October 2022, Chinese smartphone maker OnePlus introduced the wearable OnePlus Nord watch as part of its Nord range. Step counts, calories burnt, and sleep quality data are measured and stored by the OnePlus Nord Watch when it is paired with the N Health app on a smartphone.

The market for medical wearables has grown significantly in recent years, propelled by a variety of factors, including the rising incidence of chronic illnesses, rising healthcare expenses, and advancements in technology. One of the primary drivers of the medical wearables market is the increasing prevalence of chronic diseases such as diabetes, respiratory diseases, and cardiovascular diseases. Medical wearables can help patients with chronic conditions monitor their health in real time, enabling early detection and intervention to prevent disease progression and complications. Moreover, the rising healthcare costs have also fueled the growth of the medical wearables market. Medical wearables can help reduce the burden on healthcare systems by enabling remote patient monitoring and reducing hospital readmissions, which can significantly reduce healthcare costs. Advancements in technology have also played a crucial role in driving the growth of the medical wearables market. Wearable devices have become increasingly sophisticated, with features such as wireless connectivity, sensors, and artificial intelligence, enabling real-time monitoring and analysis of a person's health and well-being.

However, the medical wearables market also faces several challenges, such as concerns about data privacy and security, limited reimbursement policies, and regulatory challenges. Wearable devices collect sensitive personal and health-related data, leading to concerns about data privacy and security. Moreover, limited reimbursement policies for medical wearables by healthcare providers and insurers can hinder their adoption among patients. Regulatory challenges related to the approval and certification of medical wearables can also create barriers to entry for companies in this market.

By Product

  • Patches
  • Wristband and Activity Monitors
  • Smartwatches
  • Other Clinical-Grade Wearables

By Device Type

  • Vital Signs Monitoring Devices
    • ECG /Holter Heart Rate Monitors
    • Pulse Oximeters
    • Blood Pressure Monitors
    • Multiparameter Trackers
  • Glucose Monitoring Devices
  • Sleep Apnea Monitors
  • Fetal Monitoring Devices
  • Neurological Monitoring Devices

By End User

  • Hospitals and Clinics
  • Long-term Care Centers /Assisted Living Facilities /Nursing Homes
  • Home Healthcare/Patients
  • Ambulatory care centers

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

This market research report also emphasis on factors affecting the growth rate in various regions listed above. A deep-down analysis of region will also be provided in the final version of this market which is based on conclusion of primary interviews and secondary data point gathered during the process.

By region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America registered the highest share in the market in 2022. The market for medical wearables is anticipated to be dominated by North America, with the United States emerging as the market's largest contributor. Due to the high prevalence of lifestyle-related and cardiovascular illnesses, growing wearable medical technology adoption, and high per capita medical spending, the United States now owns the greatest proportion of the global market for medical wearables. Furthermore, the FDA's increased clearance of medical wearables is likely to boost market growth due to the development of novel gadgets by industry participants. As a result of the aforementioned reasons, the North American region is anticipated to see considerable growth due to the rise in the adoption of technologically sophisticated medical wearables, the rise in healthcare spending, and the rise in efforts by the primary market participants.

  • Tier 1 players- established companies in the market with a major market share
  • Tier 2 players
  • Emerging players which are growing rapidly
  • New Entrants

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

  • To provide with an exhaustive analysis on the Medical Wearables Market By Product, By Device Type, By End User and By Region.
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • To record and evaluate competitive landscape mapping- Device launches, technological advancements, mergers and expansions

  • We have a flexible delivery model and you can suggest changes in the scope/table of content as per your requirement
  • The customization Mobility Care offered are free of charge with purchase of any license of the report
  • You can directly share your requirements/changes to the current table of content to: sales@futurewiseresearch.com

Table of Contents


  • 1.   Market Introduction
    •   1. Objectives of the Study
        2. Market Definition
        3. Market Scope
         3.1 . Years Considered for the Study
         3.2 . Market Covered
        4. Currency
        5. Limitations
        6. Stakeholders
  • 2.   Research Methodology
    •   1. Research Data
         1.1 . Secondary Data
          1.1.1 . Key Data from Secondary Sources
         1.2 . Primary Data
          1.2.1. Key Data from Primary Sources
        2. Market Size Estimation
        3. Market Breakdown and Data Triangulation
        4. Assumptions for the Study
  • 3.   Executive Summary
    •   1. Market Outlook
        2. Segment Outlook
        3. Competitive Insights
  • 4.   Global Medical Wearables Market Variables, Trends and Scope

    •   1. Market Lineage Outlook
        2. Penetration and Growth Prospect Mapping
        3. Industry Value Chain Analysis
        4. Cost Analysis Breakdown
        5. Technology Overview
        6. Regulatory Framework
         6.1. Reimbursement Framework
         6.2. Standards and Compliances

  • 5.   Market Overview
    •   1. Market Dynamics
         1.1. Market Driver Analysis
          1.1.1. Increasing focus of Medical Wearables Companies on Brand Protection
          1.1.2. Untapped Opportunities in Emerging Regions
         1.2. Market Restraint Analysis
          1.2.1. High Cost Associated with Implementation of Predictive Analysis
         1.3. Industry Challenges
          1.3.1. Presence of Ambiguous Regulatory Framework
  • 6.   Global Medical Wearables Market Analysis Tools
    •   1. Industry Analysis - Porter’s
         1.1. Supplier Power
         1.2. Buyer Power
         1.3. Substitution Threat
         1.4. Threat from New Entrants
         1.5. Competitive Rivalry
        2. Pestel Analysis
         2.1. Political Landscape
         2.2. Environmental Landscape
         2.3. Social Landscape
         2.4. Technology Landscape
         2.5. Legal Landscape
        3. Major Deals And Strategic Alliances Analysis
         3.1. Joint Ventures
         3.2. Mergers and Acquisitions
         3.3. Licensing and Partnership
         3.4. Technology Collaborations
         3.5. Strategic Divestments
        4. Market Entry Strategies
        5. Case Studies
  • 7.   Global Medical Wearables Market, By Product Historical Analysis and Forecast 2023-2031 (USD Million)

    •   1. Patches
        2. Wristband and Activity Monitors
        3. Smartwatches
        4. Other Clinical-Grade Wearables

  • 8.   Global Medical Wearables Market, By Device Type Historical Analysis and Forecast 2023-2031 (USD Million)

    •   1. Vital Signs Monitoring Devices
         1.1. ECG /Holter Heart Rate Monitors
         1.2. Pulse Oximeters
         1.3. Blood Pressure Monitors
         1.4. Multiparameter Trackers
        2. Glucose Monitoring Devices
        3. Sleep Apnea Monitors
        4. Fetal Monitoring Devices
        5. Neurological Monitoring Devices

  • 9.   Global Medical Wearables Market, By End User Historical Analysis and Forecast 2023-2031 (USD Million)

    •   1. Hospitals and Clinics
        2. Long-term Care Centers /Assisted Living Facilities /Nursing Homes
        3. Home Healthcare/Patients
        4. Ambulatory care centers

  • 10.   North America Medical Wearables Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. U.S.A
         2.2. Canada
         2.3. Mexico
        3. Market Size (USD Million) Forecast for North America 2023-2031

  • 11.   Latin America Medical Wearables Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Brazil
         2.2. Venezuela
         2.3. Argentina
         2.4. Rest of Latin America
        3. Market Size (USD Million) Forecast for Latin America 2023-2031

  • 12.   Europe Medical Wearables Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Germany
         2.2. U.K
         2.3. France
         2.4. Italy
         2.5. Spain
         2.6. Russia
         2.7. Poland
         2.8. Rest of Europe
        3. Market Size (USD Million) Forecast for Europe 2023-2031

  • 13.   Asia Pacific Medical Wearables Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Japan
         2.2. China
         2.3. India
         2.4. Australia and New Zealand
         2.5. ASEAN
         2.6. Rest of Asia Pacific
        3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031

  • 14.   Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)

    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. GCC
         2.2. Israel
         2.3. South Africa
         2.4. Rest of MEA
        3. Market Size (USD Million) Forecast for MEA 2023-2031

  • 15.   Market Share Analysis and Competitive Landscape
    •   1. Global Landscape - Key Players, Revenue and Presence
        2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
        3. Global Emerging Companies
        4. North America - Market Share Analysis and Key Regional Players
        5. Europe - Market Share Analysis and Key Regional Players
        6. Asia Pacific - Market Share Analysis and Key Regional Players
        7. Global Key Player - Growth Matrix
  • 16.   Company Profiles (Competition Dashboard, Competitors Deep Dive, Devices Offered and Financial Layouts)

    •   1. Medtronic plc. (Ireland)
         1.1. Company Overview
         1.2. Device Portfolio
         1.3. SWOT Analysis
         1.4. Financial Overview
         1.5. Strategic Overview
        2. Koninklijke Philips N.V. (Netherlands)
         2.1. Company Overview
         2.2. Device Portfolio
         2.3. SWOT Analysis
         2.4. Financial Overview
         2.5. Strategic Overview
        3. Omron Corporation (Japan)
         3.1. Company Overview
         3.2. Device Portfolio
         3.3. SWOT Analysis
         3.4. Financial Overview
         3.5. Strategic Overview
        4. Biotelemetry Inc.(US)
         4.1. Company Overview
         4.2. Device Portfolio
         4.3. SWOT Analysis
         4.4. Financial Overview
         4.5. Strategic Overview
        5. Apple, Inc. (US )
         5.1. Company Overview
         5.2. Device Portfolio
         5.3. SWOT Analysis
         5.4. Financial Overview
         5.5. Strategic Overview
        6. Dexcom Inc. (US)
         6.1. Company Overview
         6.2. Device Portfolio
         6.3. SWOT Analysis
         6.4. Financial Overview
         6.5. Strategic Overview
        7. Abbott Laboratories(US)
         7.1. Company Overview
         7.2. Device Portfolio
         7.3. SWOT Analysis
         7.4. Financial Overview
         7.5. Strategic Overview
        8. Masimo Corporation(US)
         8.1. Company Overview
         8.2. Device Portfolio
         8.3. SWOT Analysis
         8.4. Financial Overview
         8.5. Strategic Overview
        9. GE Healthcare (US)
         9.1. Company Overview
         9.2. Device Portfolio
         9.3. SWOT Analysis
         9.4. Financial Overview
         9.5. Strategic Overview
        10. Bio-Beat Technologies (Israel)
         10.1. Company Overview
         10.2. Device Portfolio
         10.3. SWOT Analysis
         10.4. Financial Overview
         10.5. Strategic Overview
        11. iRhythm Technologies, Inc.(US)
         11.1. Company Overview
         11.2. Device Portfolio
         11.3. SWOT Analysis
         11.4. Financial Overview
         11.5. Strategic Overview
        12. VitalConnect (US)
         12.1. Company Overview
         12.2. Device Portfolio
         12.3. SWOT Analysis
         12.4. Financial Overview
         12.5. Strategic Overview
        13. Minttihealth (US)
         13.1. Company Overview
         13.2. Device Portfolio
         13.3. SWOT Analysis
         13.4. Financial Overview
         13.5. Strategic Overview
        14. Preventice Solutions, Inc. (US)
         14.1. Company Overview
         14.2. Device Portfolio
         14.3. SWOT Analysis
         14.4. Financial Overview
         14.5. Strategic Overview
        15. Contec Medical Systems Co.Ltd(China)
         15.1. Company Overview
         15.2. Device Portfolio
         15.3. SWOT Analysis
         15.4. Financial Overview
         15.5. Strategic Overview
        16. Biotricity Inc.(US)
         16.1. Company Overview
         16.2. Device Portfolio
         16.3. SWOT Analysis
         16.4. Financial Overview
         16.5. Strategic Overview
        17. Verily Life Sciences. (US)
         17.1. Company Overview
         17.2. Device Portfolio
         17.3. SWOT Analysis
         17.4. Financial Overview
         17.5. Strategic Overview
        18. Cyrcardia Asia Limited (Hong Kong ),
         18.1. Company Overview
         18.2. Device Portfolio
         18.3. SWOT Analysis
         18.4. Financial Overview
         18.5. Strategic Overview
        19. Ten3T Healthcare (India)
         19.1. Company Overview
         19.2. Device Portfolio
         19.3. SWOT Analysis
         19.4. Financial Overview
         19.5. Strategic Overview
        20. VivaLnk, Inc.(US).
         20.1. Company Overview
         20.2. Device Portfolio
         20.3. SWOT Analysis
         20.4. Financial Overview
         20.5. Strategic Overview

  • 17.   Pre and Post COVID-19 Impact

    •   1. Positive influence on the healthcare industry
        2. The financial disruption of the manufacturing sector
        3. Impact of COVID-19 on emerging companies
        4. Significant mandates in the healthcare regulations initiated by
                  administrations
        5. The overall economic slowdown of the developing and developed nations

  • 18.   FutureWise SME Key Takeaway Points for Client

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